Fimat believes the acquisition of Cube fits perfectly into its strategy by complementing its execution and clearing capabilities, and will reinforce its position as a leading futures and options brokerage.

'The combination of the two entities will allow Fimat to significantly increase the volume of its transactions in futures and options, and will further confirm Fimat's place as a top broker in the London market,' says Nicolas Breteau, CEO of Fimat UK and European Zone Managing Director.' Fimat and Cube will pool their market intelligence to better serve their clients, offering them one-stop shop access to a wider range of innovative products and services' says

Patrice Blanc, CEO Fimat Group, adds: 'Both Fimat and Cube Financial are fast-growing entities with lean and efficient operations. We are scaling up with this acquisition, achieving at the same time strong commercial synergies and benefits in terms of processes and systems.'

John Ruskin, managing director of Cube Financial believes the two companies are a very good fit. 'Cube has an entrepreneurial spirit, which fits very well into the Fimat way of doing business,' he says. 'The combination of our strengths in worldwide execution and clearing will create a brokerage champion, a destination of choice for clients and brokers alike.'

Background notes: Cube Financial provides execution services to institutional and end user clients. The firm specializes in exchange-traded derivatives and over the counter derivatives. In addition Cube also provides services to clients in Cash Equities, Government and corporate bonds and corporate foreign exchange. The Cube group was formed in 1997, initially as a floor operation on the LIFFE floor. The company has since evolved to embrace screen trading in a number of different products. Cube has offices in London and Chicago and employs in excess of 100 execution professionals. It is a member of every major derivative and cash exchange in Europe and has a floor presence on the Chicago Board of Trade and Chicago Mercantile Exchange. Cube is therefore able to offer its clients a broad range of execution services.